673886040@qq.com
LG New Energy and Hyundai Motor to establish battery joint venture in Indonesia
On March 17, according to foreign media reports, LG New Energy, a subsidiary of LG Chem, which focuses on the battery business, and Hyundai Motor, which is vigorously developing electric vehicles, will establish a battery joint venture in Indonesia.
According to foreign media reports, the two companies agreed to set up a joint venture in July last year. In the joint venture, LG New Energy holds a 50% stake and Hyundai Motor holds a 25% stake.
This joint venture battery company established by LG New Energy and Hyundai Motor in Indonesia is expected to be put into operation in 2024. The initial planned annual production capacity is 10GWh, but the two companies agreed to increase the annual battery production capacity of the factory to 30GWh in the future according to demand.
It is worth noting that Hyundai Motor has a complete vehicle factory in the Deltamas Industrial Park near Tskarang, Indonesia, and is their only factory in Southeast Asia, where they have decided to produce the IONIQ 5 electric vehicle.
Under the circumstance that Hyundai Motor has decided to produce electric vehicles in the Indonesian factory, the battery factory, which is a joint venture between LG New Energy and Hyundai Motor in Indonesia, is likely to be supplied nearby for production in the Hyundai factory after it is completed and put into production. of electric vehicles.
